New Light Well Intervention Vessel

Press Release
Wednesday, April 27, 2011
Light well intervention (LWI) vessel Island Constructor. (Photo: Island Offshore)

Statoil has awarded Island Offshore a framework agreement for a new light well intervention (LWI) vessel on the Norwegian continental shelf (NCS).

The third of its type in Statoil’s portfolio the vessel will help reduce the costs of well interventions and enhanced oil recovery.

Statoil has awarded Island Offshore a framework agreement for light well intervention (LWI) services from their vessel Island Constructor. The duration of the framework agreement is three years, with an option to extend for another year.

A first call-off has been made for 168 days at an approximate value of NOK 320 million, all services included.

”Light well intervention vessels are an important tool in Statoil’s toolbox to increase recovery from the fields on which we operate. We already have two similar vessels in our NCS portfolio operating year-around, and it is of high value to us, both in terms of efficiency and cost-reduction. Compared with conventional drilling units these LWI vessels reduce the cost of well interventions by 50 to 70 percent”, says senior vice president of drilling and well in Statoil, Øystein Arvid Håland.

A growing number of discoveries on the NCS are developed via subsea installations. At the same time, production from mature fields is declining. Wells need workovers to maintain their output by removing deposits and halting water intrusion. But performing conventional jobs of this kind for subsea developments has been expensive. To address this, Statoil has put LWI vessels into service on a large scale.

An aging rig fleet and securing sufficient fit-for-purpose rig capacity at a competitive and sustainable rig rate level are the main challenges in the NCS rig market. Several initiatives have been launched to address these challenges.

Statoil has made a substantial commitment to research and technology development in order to improve its drilling and well operations. The LWI vessels can improve drilling efficiency and also have the potential to offset rig capacity.

“We are pleased to secure additional capacity for LWI services with this new framework agreement. It is also an example of how we want to contract fit-for purpose units to assure that we use the right tools at the right time. We hereby address the need for well intervention without compromising on drilling capacity”, says chief procurement officer in Statoil, Jon Arnt Jacobsen.

Island Constructor is designed to operate in water depths of up to 600 meters. Plans call for the intervention unit to start its first operation for Statoil in November 2011.

Statoil has been pursuing riserless wirelining in subsea wells since 2003, and the technology has steadily improved.

 

Source: Statoil

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Norwegian Unions Say 755 O&G Workers Could Strike

About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from western Europe's top producer, if a new wage deal is not agreed before a Friday deadline,

POSH Bags Shell FLNG Contract

Singapore’s offshore marine services provider PACC Offshore Services Holdings Ltd. (POSH) has been awarded a contract to support Shell’s Prelude floating liquefied

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

Vessels

BigLift Shipping Expands Heavy Lift Fleet

BigLift Shipping said it has ordered a third Happy S-type vessel. The new build vessel, to be named Happy Sun, will be identical to BigLift’s Happy Star and will

Panamax Vessel Demand Keeps Baltic Index Up

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for a fourth straight session as higher demand

New Era of Global Trade with Expanded Panama Canal

The Expanded Panama Canal is now officially open for business.   During the official inauguration ceremony, Panamanian President Juan Carlos Varela and Panama Canal Administrator and CEO Jorge L.

 
 
Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0914 sec (11 req/sec)